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Wholesale Inventory Growth Slowest Since May 2013, Sales Tumble - Worst Ratio Since Lehman
There goes GDP... Inventory growth stalled notably to just 0.1% MoM in December (missing the 0.2% rise expectations) from 0.8% growth in November to its lowest since May 2013. The other side of the spectrum was even worse with Wholesale Sales sliding a worse-than-expected 0.4% leaving the December inventories/sales ratio at 1.22 (up from 1.16 in December) to the worst level since Lehman. If we build it... based on artificial price signals and mal-investment - they didn't come...
It appears we have reached peak inventory stuffing...
as the pulled forward demand disappears...
Not exactly "crisis has passed" kind of news...
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Wait... what?
I'm confused. Happens sometimes, but I don't think it's my fault this time.
<edit> Ah, there we go. Second graph added. Now it makes more sense.
But Tiffany's inventory still building!
Fuck lehman
5 Econ misses and 1 revision lower and stocks are still rallying. Thank you PPT for the morning 100pt futures ramp job which assures horrible data will still result in higher stock closes. You guys are the bestest.
How many "summers of recovery" have we endured just to get to another 'winter of discontent"?
The number of recoveries is directly proportionate to the nights of drinking.
Steve LIESman: "This just doesn't make sense, the fundamentals are strong"
He's an epic tool. I can't wait for the video compilation of all of his bumbling after the next collapse.
and this is news to who?
GDP will be whatever number the ministry of truth decides it will be.
Federal Reserve, higher stock prices should push more Maserati's.
Keep those overly inflated IPOs coming and doing your dog and pony show at the slight indication of a market correction.
More cheese sandwich truck-type IPOs. Plenty of food trucks (thousands) out there so IPO and become 100 millionaires. Instant rags to riches.
So many fund managers out there to throw billions at your IPO.
But...but...but apple has hit an all time high! /sarc
Since every sell side analcyst has been wrong time and time again about the timing of the first miniscule (.25%) FED rate hike let me take a guess as to when it will happen.
I'm thinking in the 3rd week of June in the year Two Thousand and never.
I keep reading these "since Lehman" "since 2009" "since the financial crisis" headlines, not just on ZH, and it makes me wonder what SPY buyers are thinking.
bring back mark-to-market, Mr. Yellen. there will be no 'normalization' before that little bit of transparency.